Refer to the accompanying figure. What is the equilibrium quantity of bananas in this market?

A)0 pounds/day
B)3 pounds/day
C)4 pounds/day
D)5 pounds/day

Name: Refer to the accompanying figure. What is the equilibrium quantity of bananas in this market? A)0 pounds/day B)3 pounds/day C)4 pounds/day D)5 pounds/day
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Question

Refer to the accompanying figure. What is the equilibrium quantity of bananas in this market?

A)0 pounds/day 
B)3 pounds/day 
C)4 pounds/day 
D)5 pounds/day

Quizplus · Accepted Answer

At the point at which the supply curve and the demand curve intersect, the quantity demanded and the quantity supplied are both 5 pounds/day, so this is the equilibrium quantity.

Refer to the Accompanying Figure